Creating a kick-ass in-house Email Marketing function: The basics
If you're running a DTC ecommerce business, email marketing can be a powerful tool for driving traffic, building brand loyalty, and increasing revenue. However, simply sending out emails isn't enough - you need to have a solid process in place for monitoring your results to truly make the most of your email channel.
At KDV, we've worked with many brands who struggled with monitoring their email metrics. While they may have a general idea of how their emails are performing, without a consistent and actionable process for analysing their data, they often miss out on valuable insights and opportunities to improve.
That's why we're excited to kick off our series of blog posts on setting up a successful in-house email marketing function. In this series, we'll be sharing our secrets for success, even if your team is small and stretched.
The first step in setting up a successful in-house email marketing function is monitoring your results. The key to monitoring your email channel's performance is to have a KPI (key performance indicator) tracker. Your KPI tracker should be closely aligned with your overall ecommerce strategy and business goals, and it should be designed to help you make strategic decisions that will drive the success of your email channel.
So how do you create a KPI report that works for your business? Here are some tips to get you started:
Identify the most important metric for your brand: Depending on your industry and business goals, your north star metric may not always be revenue from email. Instead, it could be engagement metrics like open and click-through rates, or even metrics related to customer retention and brand loyalty.
Define your metrics clearly and consistently: Make sure everyone on your team is using the same definitions and sources for your email metrics. This will help prevent confusion and ensure that you're all on the same page when it comes to analysing your results.
Monitor your metrics regularly: We recommend reviewing your key metrics at least once a week, and conducting more in-depth analysis on a monthly, quarterly, and annual basis. Regular monitoring will help you catch any issues early and make adjustments to improve your results.
Automate your reporting wherever possible: You don't want to spend all your time putting together reports. Instead, focus on analysing the data and making strategic decisions. Automating your reporting will save you time and allow you to be more efficient.
Focus on the most important metrics: Don't overwhelm yourself with too many numbers. Instead, identify the handful of metrics that have the greatest impact on your ecommerce channel's success. This will help you stay focused and make the most of your time.
By following these tips, you can create a KPI report that will help you make the most of your email marketing function. However, monitoring your results is just the first step. In our next blog post, we'll cover how to plan and decide on what to talk about in your emails to keep your audience loyal and engaged.
In conclusion, monitoring the performance of your email channel is essential for success. With a solid KPI tracker, regular monitoring, clear definitions, automation, and focus on the most important metrics, you can gain valuable insights and make strategic decisions that will help your ecommerce channel thrive.
Stay tuned for more secrets on setting up a successful in-house email marketing function!